The S&P/ASX 20 (XTL) is Australia’s narrowest stock market index.

The index contains the 20 largest ASX listed stocks and accounts for ~48% ^{(September 2023)} of Australia’s sharemarket capitalisation. All companies are highly liquid and considered “bluechip” shares.

The ASX top 20 companies offer little diversification with only 8 GICS Sectors represented. The Financials sector holds four of the five largest companies and accounts for ~36% ^{(August 2023)} of the index.

There’s currently one Exchange Traded Fund (ETF) that tracks the performance of the index: iShares S&P/ASX 20 (ILC).

 

How are ASX 20 companies selected?

Constituents are selected by a committee from Standard & Poor’s (S&P) and the Australian Securities Exchange (ASX).

All companies listed on the Australian Securities Exchange (ASX) are ranked by market capitalisation. Exchange traded funds (ETFs) and Listed Investment Companies (LICs) are ignored. The top 20 ASX stocks that meet minimum volume and investment benchmarks then become eligible for inclusion in the index.

Rebalances are conducted quarterly in March, June, September and December. If a significant event occurs (e.g. delisting, merger, etc.) an intra-quarter rebalance may be conducted. A minimum of two business days’ notice is given to the market.

 

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ASX 20 List (28 April 2021)

Click here for the current Share Prices (and Stock Charts)

The 20 largest companies by market capitalisation (includes ETFs & LICs) and not S&P constituents.

Code	Company
ALL	Aristocrat Leisure Ltd
ANZ	Australia and New Zealand Banking Group Ltd
APT	Afterpay Ltd
BHP	BHP Group Ltd
CBA	Commonwealth Bank of Australia
CSL	CSL Ltd
FMG	Fortescue Metals Group Ltd
GMG	Goodman Group
MQG	Macquarie Group Ltd
NAB	National Australia Bank Ltd
NCM	Newcrest Mining Ltd
REA	REA Group Ltd
RIO	RIO Tinto Ltd
TCL	Transurban Group
TLS	Telstra Corporation Ltd
WBC	Westpac Banking Corporation
WES	Wesfarmers Ltd
WOW	Woolworths Group Ltd
WPL	Woodside Petroleum Ltd
XRO	Xero Ltd

 

Sector breakdown

All S&P/ASX Indices use the Global Industry Classification Standard (GICS) to categorise constituents according to their principal business activity.

The S&P/ASX 20 Index only contains 9 of the 11 GICS Sectors. Information Technology, Consumer Discretionary and Utilities are not represented.

Data updated: 1 March 2019

PE Ratio & Dividend Yield

Fundamental data for the S&P/ASX 20 Index is weight-adjusted by market capitalisation. Companies with zero or negative values are ignored.

Data updated: 1 July 2017

Exchange Traded Fund (ETF)

ETFs are managed funds that track a benchmark. They trade on the ASX like ordinary shares using their ticker code. The goal of an index fund is to replicate the performance of the underlying index, less fees and expenses.

As at 10 October 2016, the iShares S&P/ASX 20 (ILC) is the only ETF that tracks the performance of the S&P/ASX 20 Index.